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Can you transfer a debt to another person if that person agrees?
Wiki User
∙ 12y ago
If the creditor agrees, yes.
Wiki User
∙ 12y ago
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What is known as the transferring debt from one credit card to another?
It is balance transfer.
What is the purpose of 0 interest credit card transfer balances?
Zero interest credit card transfer balances allows a person to transfer the outstanding debt (as long as it is within the limit) to another credit card without incuring any new interest.
What is a grantor on a loan?
A guarantor is the person who agrees to pay on a debt of someone else if the person who guaranteed to pay defaults on the loan. A guarantor is a type of co-signer for the loan.
You have a car loan can another person take over the payments?
If the loan company approves. If the loan company does not approve and transfer the loan you would still be legally responsible for the debt.
If you transfer your account balance to another credit card does that action act as a payment to the credit card it was tranfered from?
Yes. You've moved the debt from one account to another, so the first account would recognize the transfer as a payment and the second account would treat it as a new debt.
What is known as the transferring debt from one credit card to another?
It is balance transfer.
What is the purpose of 0 interest credit card transfer balances?
Zero interest credit card transfer balances allows a person to transfer the outstanding debt (as long as it is within the limit) to another credit card without incuring any new interest.
What is a grantor on a loan?
A guarantor is the person who agrees to pay on a debt of someone else if the person who guaranteed to pay defaults on the loan. A guarantor is a type of co-signer for the loan.
You have a car loan can another person take over the payments?
If the loan company approves. If the loan company does not approve and transfer the loan you would still be legally responsible for the debt.
Can the borrower on a promissory note transfer the debt to another borrow without lender approval?
Is not possibile.
When you owe a good or service to another person you are in what?
DeBt
Can a person forgive a debt to another person legally?
If you are the one whose debt is being forgiven, it would be wise on your part to get a notarized document signed by the person forgiving the debt. This will be a proof in your part if anyone in the forgiver's family decides to collect on the debt.
If you transfer your account balance to another credit card does that action act as a payment to the credit card it was tranfered from?
Yes. You've moved the debt from one account to another, so the first account would recognize the transfer as a payment and the second account would treat it as a new debt.
What is indemnity?
an unconditional promise to completely assume another person's debt
Definition of primary promise?
promise to pay another's debt that is not conditioned upon the other person's failure to pay promise to pay another's debt that is not conditioned upon the other person's failure to pay
What legal responsibility does a guarantor have?
A guarantor is someone who pledges that a loan or other type of debt will be paid. Usually, a guarantor agrees to pay or perform another person's debt or duty should that person fail to do so. The term is most commonly used in reference to financial assistance. However, it is important to note that accountability varies from institution to institution. Often it is possible for a guarantor to opt out of their role as guarantor.
Are bonds a mutual fund?
No. Bonds are agreements between two people involving money transfer and debt. The person who is borrowing agrees to repay the money along with interest after a specified duration of time to the lender.A mutual fund is a common pool of money collected from many investors and invested in the stock marketby the fund manager.
